Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
Probation of will
— Photo: V. Raju
Register for true value: It is best to register property at the value for which the property is being bought.
I would like to know if it is mandatory for a registered will to be probated if it has been registered in a metro (delhi/new delhi ) with the sub-registrar. I heard from someone that if a will is registered with a sub - registrar in a metro/delhi/new delhi then it is not necessary and is accepted. Please advise.
Gopesh Vasandani
Our panellist R.L. Narayanan replies:
“Probate” means proving a Will. It is granted to the executor named in the Will. A lot of factors may arise in the construction of a Will. The most important being whether the same is made voluntarily or whether there is any incapacity on the part of the person making the Will. Further, if the properties are situated in Kolkata, Chennai or Mumbai, in certain circumstances, probate or letters of administration, as the case may be, will be required. Certain other factors as to whether the same is the last Will and Testament, whether there is any other Will being propounded and many other matters have to be considered in deciding as to whether a Will needs to be probated or otherwise. This depends on the facts and circumstances of the case.
Property purchase by NRI
I am an NRI working in Saudi Arabia. I am finalising a residential house in Chennai. I have given POA to my brother. I heard that to finalise the property I must come in person. Is it true? Is there any way to avoid my coming thereAbdul Jalal
Mr. R.L. Narayanan replies: You do not have to come down to Chennai to finalise the property. It is sufficient if your brother represents you as your Power of Attorney under a duly granted Power of Attorney having powers to purchase the property. Your brother, if properly authorised, can execute and register a Sale Deed and pay the sale consideration on your behalf. This is a simple process. Please obtain suitable advise in this regard.
Settlement deed for property
A friend of mine has a self-acquired property registered as a HUF+ 3 members of his family -viz. himself, his wife and a son, each with a share of 25%. The family consists of himself, his wife, a son and a daughter. His mother is no more. The daughter is already married. He wishes to give his and his wife’s share to his grandchildren. As the cost of probate of a will is high at 3% of the value, he is in favour of a Settlement Deed favouring his grandchildren. He can also obtain a Release deed from his daughter, she having received a substantial amount during her marriage.
I have two queries:
1. Does the Law permit him to make a Settlement Deed for his and his wife’s share -each costing a maximum of Rs. 10,000 + Rs. 2,000 in lieu of a will?
2. Is there a provision to revoke a HUF - as to the property only?
K. Ripendran
Mr. R.L. Narayanan replies: Your usage of words that your friend’s property is a self acquired property registered as a HUF, is not clear. There has to be a partition of shares before a settlement or release is effected. Once this is done, the same can be settled or released, as indicated by you.
Register land at purchase value
I am planning to buy a property (residential land) and have located one. During negotiations, I was told that the registration would be done at 50% of the guideline value prevailing in that area ( it seems the document would say that the value is only 50% of the existing value). I would like to know if this is possible/ is it a practice commonly done. Will there be any problems in the future during resale/Government takeover etc. while the seller would do this for obvious reasons what are the financial and legal implications that I would have to face.
Dr. S. Ganapathy Krishnan
Chennai 600 040
Mr. R.L. Narayanan replies: You have to register the land at a value for which you are buying the property. Many of the notions as set out in your query exist without understanding the implication of the same.
The sum and substance which can be inferred from your query is that there would be cash dealing which is not brought into account which is not proper. There may be several financial and legal implications in entering into a transaction like this. Please obtain suitable advise from your Advocate or a Chartered Accountant in this regard.
Countering tenant’s refusal to vacate
My parents have a flat in Visakhapatnam and the tenant is not vacating. There are no other issues with him but we need the flat for our own use. He is demanding money to vacate. What is the best option for us? Also my parents want to transfer this property to my name, I am a US Citizen with NRI status. Will this help or hurt us in case of a legal battle.
Kannan
Mr. R.L. Narayanan replies: It is best that your parents file a Petition before the Rent Controller concerned on the ground that the Flat is required for their own use. If they are staying in a rented premises, there is a good chance of the petition being ordered. If the property is transferred to you presently, it may not be very helpful from the point of view of self occupation. Please obtain suitable advise from your Advocate in this regard.
Printer friendly
page
Send this article to Friends by
E-Mail
Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
|
